XiDeLang is poised to be the third Chinese company to list on Bursa Malaysia after fellow shoe counterparts-Xingquan International Sports Holdings Ltd and Multi Sports Holdings Ltd.
However,the number of listing in Malaysia is very pathetic when compared to the Singapore counterpart,where more than 100 Chinese companies have already been listed in the Singapore Stock Exchange. (Incidentally at least 25 are from Guangdong,one of China’s richest provinces and a manufacturing hub). As Singapore Exchange is Asia’s second largest-listed bourse ,it is therefore of no surprise that it is also the home to listings from Indonesian,Malaysian and Indian firms.
However,there are also bad things coming out with such heavy Chinese companies listed in SGX. Recently,Senior Minister,Mr. Goh Chok Tong who is the chairman of central and financial regulator of the Monetary Authority of Singapore asked Chinese firms listed in Singapore or S-chips to be more regulated in the wake of the many scandals of defrauding the public investors.
Some examples of such scandals are:
- Renewable energy firm China EnerSave,a subsidiary defaulted on the repayment of bank loans of 898.8 million yuan ($131.6 million) in China and the company has also defaulted on a loan repayment of $20 million.
- Earlier,Chinese-based education provider Oriental Century ,partly owned by Singapore’s Raffles Education “substantially inflated”the company’s balance sheet for its 2008 full year financial results.
- Along with Oriental Century,shares in FibreChem Technologies and China Sun Bio-Chem are suspended from trading over alleged accounting irregularities.
- First Foreign Sukuk Listed On Bursa Saham Malaysia
- Performance of Companies Listed in Bursa Saham Malaysia from 2007 to July 2009
- 351 Chinese Mainland Companies Listed On HKEx
- Record Number Of Chinese Firms On Fortune 500
- Bursa Commences Delisting PN17 Company,Polymate
- Directors Of LFE Corporation Being Fined And Publicly Reprimanded By Bursa Malaysia
- Malaysia:Bursa Securities (KLSE) Amends Rules on Bonus Issues
FCCA,CA(MIA)with more than 26 years of post-qualifying working experiences. Previous working stints with one of the big accounting four,Regional GFC & Group Treasurer in a group of Malaysian and Group CFO in Singapore public listed concern.Also author to another very popular free educational accounting cum finance blog:http://basiccollegeaccounting.com under the branding of College Accounting Coach.
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